RationalFX : The pound has started the day with a spring in its step as UK Inflation data beat expectations for December.
The figure was expected to be an improvement from a previous 0.3% to 0.5% but the realized figure was an even more improved 0.6%. Britain’s inflation rate picked up during the month of December after shoppers, albeit briefly, were allowed back into stores between lockdowns.
This figure is still well below the Bank of England target, but crumbs of comfort can be taken from the figure beating expectations. The rising prices for clothing, transport, and cultural activities were the biggest reason behind the larger than expected rise, but this was partially offset by the falling cost of food and non-alcoholic drinks.
17:00 – GBP- BOE Governor Bailey Speech
17:00 – USD – Presidential Inauguration
Source : ETFWorld.co.uk